As far as first solar goes SI, it looks like it is in a corrective wave, which could have completed as it does sub-divide into a 5 wave motive wave to the downside. If so, look for the low of 24.46 to hold from 3/4. On a re-test if the 24.46 holds, then FSLR is probably forming corrective wave b. Corrective wave b usually does not go past the prior high of the formation but gives you one last chance to exit your position before corrective wave c begins

Er, OK, thanks, I think. I think I have a mental block when even thinking of Elliott Wave.......... that since I tried to muddle through their free, 3 video tutorial. I'll review what you just said (maybe several times) and hope I understand. I think the gist is that if it doesn't show a positive motion, then whatever is shows is a signal to exit stage right. I think I got it now. Thanks.

uh, yeah basically what i said is FSLR could have hit a short term bottom....watch the prior bottom from a couple days ago to make sure it doesnt go below. If it doesnt, then it is probably making its last gasp upwards.

Take a 50% retracement of this current drop - usually a stock will come back up to the 50% line before continuing its correction - that can at least give you a starting point of where FSLR's bounce can go to

Originally Posted by siriusly_invested

Er, OK, thanks, I think. I think I have a mental block when even thinking of Elliott Wave.......... that since I tried to muddle through their free, 3 video tutorial. I'll review what you just said (maybe several times) and hope I understand. I think the gist is that if it doesn't show a positive motion, then whatever is shows is a signal to exit stage right. I think I got it now. Thanks.

uh, yeah basically what i said is FSLR could have hit a short term bottom....watch the prior bottom from a couple days ago to make sure it doesnt go below. If it doesnt, then it is probably making its last gasp upwards.

Take a 50% retracement of this current drop - usually a stock will come back up to the 50% line before continuing its correction - that can at least give you a starting point of where FSLR's bounce can go to

Thanks Bass. Now if I have this right, the current drop you refer to is from 17.83 down to 24.55, so a rebound of 50% to approx 26.19 is about where the current rebound would reach. Ironically, we closed today only 9 cents under that 50% retracement point, so from that we might assume it could be downhill from here....... but keep an eye on that 24.55 from a few days ago and if it breaks through that level then we might be in trouble. Did I get that almost right?

Anyway, i think I get the idea to watch for that low point and act accordingly. Unless I'm totally wet, no additional brain cells on your part are necessary for my understanding. Thanks again.

Thanks Bass. Now if I have this right, the current drop you refer to is from 17.83 down to 24.55, so a rebound of 50% to approx 26.19 is about where the current rebound would reach. Ironically, we closed today only 9 cents under that 50% retracement point, so from that we might assume it could be downhill from here....... but keep an eye on that 24.55 from a few days ago and if it breaks through that level then we might be in trouble. Did I get that almost right?

Anyway, i think I get the idea to watch for that low point and act accordingly. Unless I'm totally wet, no additional brain cells on your part are necessary for my understanding. Thanks again.

SLY, i beleive he is referiing to the drop from the 36.98 high to the 24.46 low from a couple of days back. If the low hold then take the 50% retrace from those 2 #s which sits around the 30.70 area, very close to filling the gap. At that point look for wave C to commence and take the stock back down possibly under the 24.46 low.

EDIT: This also happens to be very close to the lower uptrend line that was our buy point last week. If it gets there in a few days that would put it in the same $30 ish area.

SLY, i beleive he is referiing to the drop from the 36.98 high to the 24.46 low from a couple of days back. If the low hold then take the 50% retrace from those 2 #s which sits around the 30.70 area, very close to filling the gap. At that point look for wave C to commence and take the stock back down possibly under the 24.46 low.

EDIT: This also happens to be very close to the lower uptrend line that was our buy point last week. If it gets there in a few days that would put it in the same $30 ish area.

Thanks Denco. I may be old but I'm slow............... and happy hour has been delayed this evening due to circumstances out of my control. I'll be sure to make it a point to get my head in this plan before the sun rises tomorrow.

I'm calling $3.27 as our upcoming intermediate closing high and $3.25 as a good point to put a stop loss at, $3.15 as anything to be considered a retracement, imo, all the while with $3.08 still in the picture, but will be taking some profits at $3.20 with the sole intention of sticking it to mister short stuff. I don't see $3.30 without some type of news, but I do see $3.27 and that's what I'm calling, at least before we see $3.20. But if we do see $3.20, It's all good, cause I got some live rounds and I got a plan.... Shortie's gonna be dancing!!! Rat a tat tat it's like cheese to a rat!!!

I still don't see why people buy into P. Almost ALL those insiders are dumping those shares on a monthly basis. Other than Joe I don't see any that have held onto them. Shit, Tim Westergren sells off about a million dollars worth a month.

For a company that is for all intents and purposes "struggling"... I dunno that I would be a happy shareholder seeing such extensive sales.